1 July 2023 – 30 June 2024 · a past year
Tax brackets for 2023-24
The earliest year Payjoey holds, and the last before the 2024-25 restructure moved four of the five bands. Income tax starts at $21,885, not $18,201, once the low income tax offset is applied.
Rates verified against the official sources — how we check.
- Tax-free threshold
- $18,200
- by law
- Income tax really starts
- $21,885
- once the offset applies
- Top rate
- 45%
- over $180,000
- Medicare levy
- 2%
- on top of income tax
- Super guarantee
- 11%
- of ordinary time earnings
- Study loan repayments from
- $51,550
- one rate on the whole income
The 2023-24 resident rates
| Taxable income | Tax on this income |
|---|---|
| $0 – $18,200 | Nil |
| $18,201 – $45,000 | 19c for each $1 over $18,200 |
| $45,001 – $120,000 | $5,092 plus 32.5c for each $1 over $45,000 |
| $120,001 – $180,000 | $29,467 plus 37c for each $1 over $120,000 |
| $180,001 and over | $51,667 plus 45c for each $1 over $180,000 |
Income tax only, as the ATO publishes it for residents. The Medicare levy of 2% is charged on top, and the low income tax offset comes off the bottom.
What you pay at common incomes in 2023-24
| Taxable income | Income tax after the offset | Medicare levy | Total | Average rate | What 2024-25 changed |
|---|---|---|---|---|---|
| $20,000 | $0 | $0 | $0 | 0.0% | No change |
| $30,000 | $1,542 | $400 | $1,942 | 6.5% | $476.20 less in 2024-25 |
| $45,000 | $4,767 | $900 | $5,667 | 12.6% | $804 less in 2024-25 |
| $60,000 | $9,867 | $1,200 | $11,067 | 18.4% | $1,179 less in 2024-25 |
| $80,000 | $16,467 | $1,600 | $18,067 | 22.6% | $1,679 less in 2024-25 |
| $100,000 | $22,967 | $2,000 | $24,967 | 25.0% | $2,179 less in 2024-25 |
| $120,000 | $29,467 | $2,400 | $31,867 | 26.6% | $2,679 less in 2024-25 |
| $150,000 | $40,567 | $3,000 | $43,567 | 29.0% | $3,729 less in 2024-25 |
| $200,000 | $60,667 | $4,000 | $64,667 | 32.3% | $4,529 less in 2024-25 |
| $250,000 | $83,167 | $5,000 | $88,167 | 35.3% | $4,529 less in 2024-25 |
A single resident with no other offsets, on taxable income — what is left after deductions, not the salary on a contract.
Where tax really starts
The first rate, 19c in the dollar, begins above $18,200. But the low income tax offset takes up to $700 off the bill, and at 19c a dollar that covers the tax on the next $3,684 of income as well. So in 2023-24 no full-year resident pays income tax on a taxable income of $21,884 or less.
The Medicare levy has its own starting line: nothing up to $26,000 for a single person, then 10c for each dollar over it until that reaches 2% of the whole income.
The offset shrinks as income rises — it starts tapering above $37,500 and is gone by $66,667 — which is why the rate on the next dollar in that range is higher than the bracket rate printed above.
The year before the restructure
2023-24 is the last year with the old shape: a 19c first rate and a 32.5c band that stopped at $120,000. The 2024-25 page lists exactly what replaced them.
Study loan repayments in 2023-24
2023-24 still used the old system, which worked nothing like a bracket. Once repayment income reached $51,550, a single rate applied to the whole of it, so moving into a higher band by one dollar raised the repayment on every dollar earned. The rate rose in steps from 1.0% to 10.0%.
| Repayment income | Repayment |
|---|---|
| $0 – $51,549 | Nil |
| $51,550 – $59,518 | 1.0% of all repayment income |
| $59,519 – $63,089 | 2.0% of all repayment income |
| $63,090 – $66,875 | 2.5% of all repayment income |
| $66,876 – $70,888 | 3.0% of all repayment income |
| $70,889 – $75,140 | 3.5% of all repayment income |
| $75,141 – $79,649 | 4.0% of all repayment income |
| $79,650 – $84,429 | 4.5% of all repayment income |
| $84,430 – $89,494 | 5.0% of all repayment income |
| $89,495 – $94,865 | 5.5% of all repayment income |
| $94,866 – $100,557 | 6.0% of all repayment income |
| $100,558 – $106,590 | 6.5% of all repayment income |
| $106,591 – $112,985 | 7.0% of all repayment income |
| $112,986 – $119,764 | 7.5% of all repayment income |
| $119,765 – $126,950 | 8.0% of all repayment income |
| $126,951 – $134,568 | 8.5% of all repayment income |
| $134,569 – $142,642 | 9.0% of all repayment income |
| $142,643 – $151,200 | 9.5% of all repayment income |
| $151,201 and over | 10.0% of all repayment income |
Repayment income is taxable income plus reportable fringe benefits, net investment losses and reportable super contributions, so for anyone with those amounts it is higher than taxable income. The HECS repayment calculator works it out from your pay.
The other figures that applied in 2023-24
| Medicare levy | 2%, from $26,000 for a single person |
|---|---|
| Low income tax offset | Up to $700, gone by $66,667 |
| Super guarantee | 11% of ordinary time earnings |
| Concessional contributions cap | $27,500 |
| Maximum super contribution base | $62,270 a quarter |
| Study loan repayments | From $51,550, as one rate on the whole repayment income |
| Standard deduction for work expenses | None in this year |
| Division 293 threshold | $250,000 of income plus concessional contributions |
Work out your own 2023-24 figures
The pay calculator answers for 2023-24 if you pick it in its tax year box: take-home pay, your study loan and super, all on these rates. Payjoey publishes withholding tables for 2026-27 only, so for 2023-24 the pay calculator works out the year's tax rather than each pay's. Your HECS repayment and any Division 293 tax have their own calculators.
Every year Payjoey holds
- Tax brackets for 2026-27 — the year in force
- Tax brackets for 2025-26
- Tax brackets for 2024-25
- 2023-24 (this page)
How the four years compare, and what each change was worth in dollars, is on the tax brackets overview.
Where these figures come from
- ATO — Tax rates for Australian residents
- ATO — Low income tax offset (QC105020)
- ATO — Super guarantee (QC18123)
- ATO — Study and training loan repayment thresholds and rates
- ATO — myTax 2024 instructions, Medicare levy reduction (applies 1 Jul 2023 – 30 Jun 2024)
Kept on purpose as a past year: these are the 2023-24 figures and will not be updated to a later year. How we check sets out how every figure on this site is verified.